Susquehanna Fundamental Investments LLC Has $5.28 Million Position in Itron, Inc. (NASDAQ:ITRI)

Susquehanna Fundamental Investments LLC raised its stake in Itron, Inc. (NASDAQ:ITRI) by 136.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,326 shares of the scientific and technical instruments company’s stock after acquiring an additional 30,726 shares during the period. Susquehanna Fundamental Investments LLC owned approximately 0.12% of Itron worth $5,277,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Itron by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock worth $527,488,000 after acquiring an additional 45,909 shares in the last quarter. Select Equity Group L.P. boosted its holdings in shares of Itron by 86.2% in the 2nd quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock valued at $59,760,000 after purchasing an additional 279,629 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Itron by 2.2% in the 1st quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock valued at $50,233,000 after purchasing an additional 11,918 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new stake in shares of Itron during the 1st quarter worth $401,000. Finally, Norges Bank acquired a new stake in Itron in the fourth quarter valued at about $24,504,000. 96.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ITRI. BNP Paribas began coverage on shares of Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price for the company. Oppenheimer raised their target price on shares of Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. boosted their target price on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Stephens reissued an “equal weight” rating and set a $110.00 price objective on shares of Itron in a report on Monday, August 5th. Finally, Canaccord Genuity Group upped their target price on Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $119.67.

Itron Price Performance

Shares of ITRI opened at $107.28 on Monday. The business has a 50-day moving average of $101.00 and a 200-day moving average of $99.96. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 0.90 and a beta of 1.47. Itron, Inc. has a 1 year low of $56.11 and a 1 year high of $113.07.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.25. Itron had a net margin of 7.98% and a return on equity of 16.42%. The firm had revenue of $609.07 million for the quarter, compared to the consensus estimate of $599.25 million. During the same quarter in the previous year, the company earned $0.65 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts anticipate that Itron, Inc. will post 4.59 earnings per share for the current year.

Insider Buying and Selling at Itron

In other news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Thomas Deitrich sold 887 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $20,968,943.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now owns 16,269 shares of the company’s stock, valued at $1,643,169. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,776 shares of company stock valued at $584,721. 1.45% of the stock is currently owned by insiders.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.